Case Study: Modernizing a Traditional Business: The Brick$-$and$-$Mortar Bookstore DilemmaBackground:In this case, you'll be addressing the challenges encountered by a long$-$standing brick$-$and$-$mortar bookstore called "Book Haven," which has been struggling to stay relevant in the digital age.Problem Statement:Book Haven, a beloved local bookstore in a college town, has been in operation for over three decades. Despite its loyal customer base and a cozy atmosphere, the store has seen declining foot traffic and sales due to the rise of online retailers and e$-$books. The owners are concerned about the future viability of their business and are seeking innovative solutions to revitalize Book Haven and ensure its continued success.Exercise:Task $1$: Understanding Customer NeedsEach group will brainstorm and list out the primary needs and preferences of Book Haven's target customers. Consider factors such as convenience, selection, pricing, ambiance, and community engagement. Present your findings to the class.Task $2$: Developing a Digital StrategyGiven the challenges posed by online retailers and e$-$books, each group will develop a digital strategy to complement Book Haven's physical store. This strategy should leverage technology to enhance the bookstore's offerings and attract new customers while retaining existing ones. Consider options such as an e$-$commerce website, mobile app, virtual events, or digital book clubs. Present your digital strategy proposal to the class, highlighting key features and benefits.Task $3$: Enhancing the In$-$Store ExperienceIn this exercise, each group will brainstorm ways to enhance the in$-$store experience at Book Haven to differentiate it from online competitors. Consider options such as redesigning the layout for better navigation, incorporating interactive elements, hosting author signings or literary events, or offering specialty services like personalized recommendations or book subscription boxes. Create a plan outlining the proposed enhancements and how they align with Book Haven's brand identity. Present your plan to the class, emphasizing the value it adds to the overall customer experience.Task $4$: Marketing and Community EngagementFinally, each group will develop a marketing and community engagement plan to increase awareness and drive foot traffic to Book Haven. Consider both online and offline tactics, such as social media campaigns, email newsletters, local partnerships, and grassroots outreach. Outline a timeline for implementing these initiatives and metrics for measuring their success. Present your marketing plan to the class, explaining how it will help Book Haven connect with its target audience